The IPO window for exchanges appears to be wide open.
First out of the gate was the
Warsaw Stock Exchange, which went public on
November 9. The IPO of 30% of its total shares was 25 times
oversubscribed. The capitalisation based on the price for
institutional investors is Z1.9bn ($667m) and the total
offering is valued at Z1.2bn ($421m).
Next might be the Russian
Trading System (RTS), which has decided to prepare an
IPO in 2011 and to float its shares on its own
The third is Mercado a
Término de Buenos Aires
. The Argentine agricultural commodities exchange plans to
quote its shares publicly for the first time, the chief
executive Gustavo Picolla told FOW. The
firm’s shares only trade privately now, over
telephone markets. Picolla explained that Matba would not issue
shares and that only the 400 shares that make up its capital
will be quoted.